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A APPENDIX Amount of $1.00 Invested-Daily, Monthly, and Quarterly Compounding Annual Interest Period-4 Years Interest Period-1 Year Rate Daily Monthly Quarterly Daily Monthly Quarterly 0.50% 0.75% 1.005012 1.005011 1.005009 1.020201 1.020197 1.020189 1.007528 1.007526 1.007521 1.030454 1.030445 1.030426 1.00% 1.010050 1.010046 1.010038 1.040810 1.040793 1.040759 1.25% 1.012578 1.012572 1.012559 1.051270 1.051244 1.051189 1.50% 1.015113 1.015104 1.015085 1.061835 1.061797 1.061717 1.75% 1.017654 1.017641 1.017615 1.072506 1.072453 1.072344 2.00% 1.020201 1.020184 1.020151 1.083285 1.083215 1.083071 2.25% 1.022754 1.022733 1.022691 1.094171 1.094082 1.093898 2.50% 1.025314 1.025288 1.025235 1.105167 1.105056 1.104827 2.75% 1.027881 1.027849 1.027785 1.116273 1.116138 1.115858 3.00% 1.030453 1.030416 1.030339 1.127491 1.127328 1.126992 3.25% 1.033032 1.032989 1.032898 1.138822 1.138628 1.138230 3.50% 1.035618 1.035567 1.035462 1.150266 1.150039 1.149574 .3.75% 1.038210 1.038151 1.038031 1.161825 1.161563 1.161023 4.00% 1.040808 1.040742 1.040604 1.173501 1.173199 1.172579 4.25% 1.043413 1.043338 1.043182 1.185293 1.184949 1.184242 4.50% 1.046025 1.045940 1.045765 1.197204 1.196814 1.196015 4.75% 1.048643 1.048548 1.048353 1.209235 1.208796 1.207897 5.00% 1.051267 1.051162 1.050945 1.221386 1.220895 1.219890 5.25% 1.053899 1.053782 1.053543 1.233659 1.233113 1.231994 5.50% 1.056536 1.056408 1.056145 1.246056 1.245451 1.244211 5.75% 1.059180 1.059040 1.058752 1.258577 1.257909 1.256541 6.00% 1.061831 1.061678 1.061364 1.271224 1.270489 1.268986 6.25% 1.064489 1.064322 1.063980 1.283998 1.283193 1.281546 6.50% 1.067153 1.066972 1.066602 1.296900 1.296020 1.294222 6.75% 1.069824 1.069628 1.069228 1.309932 1.308974 1.307017 7.00% 1.072501 1.072290 1.071859 1.323094 1.322054 1.319929 7.25% 1.075185 1.074958 1.074495 1.336389 1.335262 1.332962 7.50% 1.077876 1.077633 1.077136 1.349817 1.348599 1.346114 7.75% 1.080573 1.080313 1.079782 1.363380 1.362067 1.359389 8.00% 1.083278 1.083000 1.082432 1.377079 1.375666 1.372786 8.25% 1.085989 1.085692 1.085088 1.390916 1.389398 1.386306 8.50% 1.088706 1.088391 1.087748 1.404892 1.403265 1.399952 8.75% 1.091431 1.091096 1.090413 1.419008 1.417267 1.413723 9.00% 1.094162 1.093807 1.093083 1.433266 1.431405 1.427621 9.25% 1.096900 1.096524 1.095758 1.447667 1.445682 1.441648 9.50% 1.099645 1.099248 1.098438 1.462212 1.460098 1.455803 9.75% 1.102397 1.101977 1.101123 1.476904 1.474655 10.00% 1.470089 1.105156 1.104713 1.103813 1.491743 1.489354 10.25% 1.484506 1.107921 1.107455 1.106508 1.506731 10.50% 1.504196 1.110694 1.499055 1.110203 1.109207 1.521870 10.75% 1.519184 1.113473 1.112958 1.513738 1.111912 1.537160 11.00% 1.116260 1.534317 1.115719 1.528556 1.114621 11.25% 1.552604 1.119053 1.549598 1.118486 1.543509 1.117336 11.50% 1.568203 1.121853 1.565028 1.121259 1.558600 1.120055 11.75% 1.583959 1.124660 1.124039 1.580608 12.00% 1.122779 1.573829 1.127475 1.599873 1.126825 1.596341 12.25% 1.125509 1.589197 1.130296 1.615947 1.129617 1.612226 12.50% 1.128243 1.604706 1.133124 1.632182 1.132416 1.628266 12.75% 1.130982 1.620357 1.135960 1.648580 1.135221 1.644463 13.00% 1.133727 1.636151 1.138802 13.25% 1.138032 1.665143 1.660817 1.136476 1.652089 1.141652 1.140850 1.681872 1.677330 1.139230 1.668173 1.698769 1.694005 1.684403 5. Marybeth Evanston can invest $7,500 in a 1-year CD earning 5 percent interest compounded daily or a 1-year CD earning 5.25 percent interest compounded quarterly. Which rate earns her more interest? How much more? 6. Felix Capistrano invests $25,000 in a 4-year CD earning 6 percent interest compounded quarterly. What is the amount at maturity? How much interest does he earn at the end of the 4 years? 7. Standardized Test Practice Robert and Katie Masterson have the option of investing their $20,000 savings in a 4-year CD earning 5.00 percent interest compounded daily, 5.25 percent interest compounded monthly, or 5.50 percent interest compounded quarterly. Which CD earns the most interest? A. 5% compounded daily C. 5.5% compounded quarterly B. 5.25% compounded monthly D. They all earn the same amount of interest.

A APPENDIX Amount of $1.00 Invested-Daily, Monthly, and Quarterly Compounding Annual Interest Period-4 Years Interest Period-1 Year Rate Daily Monthly Quarterly Daily Monthly Quarterly 0.50% 0.75% 1.005012 1.005011 1.005009 1.020201 1.020197 1.020189 1.007528 1.007526 1.007521 1.030454 1.030445 1.030426 1.00% 1.010050 1.010046 1.010038 1.040810 1.040793 1.040759 1.25% 1.012578 1.012572 1.012559 1.051270 1.051244 1.051189 1.50% 1.015113 1.015104 1.015085 1.061835 1.061797 1.061717 1.75% 1.017654 1.017641 1.017615 1.072506 1.072453 1.072344 2.00% 1.020201 1.020184 1.020151 1.083285 1.083215 1.083071 2.25% 1.022754 1.022733 1.022691 1.094171 1.094082 1.093898 2.50% 1.025314 1.025288 1.025235 1.105167 1.105056 1.104827 2.75% 1.027881 1.027849 1.027785 1.116273 1.116138 1.115858 3.00% 1.030453 1.030416 1.030339 1.127491 1.127328 1.126992 3.25% 1.033032 1.032989 1.032898 1.138822 1.138628 1.138230 3.50% 1.035618 1.035567 1.035462 1.150266 1.150039 1.149574 .3.75% 1.038210 1.038151 1.038031 1.161825 1.161563 1.161023 4.00% 1.040808 1.040742 1.040604 1.173501 1.173199 1.172579 4.25% 1.043413 1.043338 1.043182 1.185293 1.184949 1.184242 4.50% 1.046025 1.045940 1.045765 1.197204 1.196814 1.196015 4.75% 1.048643 1.048548 1.048353 1.209235 1.208796 1.207897 5.00% 1.051267 1.051162 1.050945 1.221386 1.220895 1.219890 5.25% 1.053899 1.053782 1.053543 1.233659 1.233113 1.231994 5.50% 1.056536 1.056408 1.056145 1.246056 1.245451 1.244211 5.75% 1.059180 1.059040 1.058752 1.258577 1.257909 1.256541 6.00% 1.061831 1.061678 1.061364 1.271224 1.270489 1.268986 6.25% 1.064489 1.064322 1.063980 1.283998 1.283193 1.281546 6.50% 1.067153 1.066972 1.066602 1.296900 1.296020 1.294222 6.75% 1.069824 1.069628 1.069228 1.309932 1.308974 1.307017 7.00% 1.072501 1.072290 1.071859 1.323094 1.322054 1.319929 7.25% 1.075185 1.074958 1.074495 1.336389 1.335262 1.332962 7.50% 1.077876 1.077633 1.077136 1.349817 1.348599 1.346114 7.75% 1.080573 1.080313 1.079782 1.363380 1.362067 1.359389 8.00% 1.083278 1.083000 1.082432 1.377079 1.375666 1.372786 8.25% 1.085989 1.085692 1.085088 1.390916 1.389398 1.386306 8.50% 1.088706 1.088391 1.087748 1.404892 1.403265 1.399952 8.75% 1.091431 1.091096 1.090413 1.419008 1.417267 1.413723 9.00% 1.094162 1.093807 1.093083 1.433266 1.431405 1.427621 9.25% 1.096900 1.096524 1.095758 1.447667 1.445682 1.441648 9.50% 1.099645 1.099248 1.098438 1.462212 1.460098 1.455803 9.75% 1.102397 1.101977 1.101123 1.476904 1.474655 10.00% 1.470089 1.105156 1.104713 1.103813 1.491743 1.489354 10.25% 1.484506 1.107921 1.107455 1.106508 1.506731 10.50% 1.504196 1.110694 1.499055 1.110203 1.109207 1.521870 10.75% 1.519184 1.113473 1.112958 1.513738 1.111912 1.537160 11.00% 1.116260 1.534317 1.115719 1.528556 1.114621 11.25% 1.552604 1.119053 1.549598 1.118486 1.543509 1.117336 11.50% 1.568203 1.121853 1.565028 1.121259 1.558600 1.120055 11.75% 1.583959 1.124660 1.124039 1.580608 12.00% 1.122779 1.573829 1.127475 1.599873 1.126825 1.596341 12.25% 1.125509 1.589197 1.130296 1.615947 1.129617 1.612226 12.50% 1.128243 1.604706 1.133124 1.632182 1.132416 1.628266 12.75% 1.130982 1.620357 1.135960 1.648580 1.135221 1.644463 13.00% 1.133727 1.636151 1.138802 13.25% 1.138032 1.665143 1.660817 1.136476 1.652089 1.141652 1.140850 1.681872 1.677330 1.139230 1.668173 1.698769 1.694005 1.684403 5. Marybeth Evanston can invest $7,500 in a 1-year CD earning 5 percent interest compounded daily or a 1-year CD earning 5.25 percent interest compounded quarterly. Which rate earns her more interest? How much more? 6. Felix Capistrano invests $25,000 in a 4-year CD earning 6 percent interest compounded quarterly. What is the amount at maturity? How much interest does he earn at the end of the 4 years? 7. Standardized Test Practice Robert and Katie Masterson have the option of investing their $20,000 savings in a 4-year CD earning 5.00 percent interest compounded daily, 5.25 percent interest compounded monthly, or 5.50 percent interest compounded quarterly. Which CD earns the most interest? A. 5% compounded daily C. 5.5% compounded quarterly B. 5.25% compounded monthly D. They all earn the same amount of interest.

College Algebra
College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 56SE: To get the best loan rates available, the Riches want to save enough money to place 20% down on a...
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Find the amount and the interest earned
A APPENDIX Amount of $1.00 Invested-Daily, Monthly, and Quarterly Compounding Annual Interest Period-4 Years Interest Period-1 Year Rate Daily Monthly Quarterly Daily Monthly Quarterly 0.50% 0.75% 1.005012 1.005011 1.005009 1.020201 1.020197 1.020189 1.007528 1.007526 1.007521 1.030454 1.030445 1.030426 1.00% 1.010050 1.010046 1.010038 1.040810 1.040793 1.040759 1.25% 1.012578 1.012572 1.012559 1.051270 1.051244 1.051189 1.50% 1.015113 1.015104 1.015085 1.061835 1.061797 1.061717 1.75% 1.017654 1.017641 1.017615 1.072506 1.072453 1.072344 2.00% 1.020201 1.020184 1.020151 1.083285 1.083215 1.083071 2.25% 1.022754 1.022733 1.022691 1.094171 1.094082 1.093898 2.50% 1.025314 1.025288 1.025235 1.105167 1.105056 1.104827 2.75% 1.027881 1.027849 1.027785 1.116273 1.116138 1.115858 3.00% 1.030453 1.030416 1.030339 1.127491 1.127328 1.126992 3.25% 1.033032 1.032989 1.032898 1.138822 1.138628 1.138230 3.50% 1.035618 1.035567 1.035462 1.150266 1.150039 1.149574 .3.75% 1.038210 1.038151 1.038031 1.161825 1.161563 1.161023 4.00% 1.040808 1.040742 1.040604 1.173501 1.173199 1.172579 4.25% 1.043413 1.043338 1.043182 1.185293 1.184949 1.184242 4.50% 1.046025 1.045940 1.045765 1.197204 1.196814 1.196015 4.75% 1.048643 1.048548 1.048353 1.209235 1.208796 1.207897 5.00% 1.051267 1.051162 1.050945 1.221386 1.220895 1.219890 5.25% 1.053899 1.053782 1.053543 1.233659 1.233113 1.231994 5.50% 1.056536 1.056408 1.056145 1.246056 1.245451 1.244211 5.75% 1.059180 1.059040 1.058752 1.258577 1.257909 1.256541 6.00% 1.061831 1.061678 1.061364 1.271224 1.270489 1.268986 6.25% 1.064489 1.064322 1.063980 1.283998 1.283193 1.281546 6.50% 1.067153 1.066972 1.066602 1.296900 1.296020 1.294222 6.75% 1.069824 1.069628 1.069228 1.309932 1.308974 1.307017 7.00% 1.072501 1.072290 1.071859 1.323094 1.322054 1.319929 7.25% 1.075185 1.074958 1.074495 1.336389 1.335262 1.332962 7.50% 1.077876 1.077633 1.077136 1.349817 1.348599 1.346114 7.75% 1.080573 1.080313 1.079782 1.363380 1.362067 1.359389 8.00% 1.083278 1.083000 1.082432 1.377079 1.375666 1.372786 8.25% 1.085989 1.085692 1.085088 1.390916 1.389398 1.386306 8.50% 1.088706 1.088391 1.087748 1.404892 1.403265 1.399952 8.75% 1.091431 1.091096 1.090413 1.419008 1.417267 1.413723 9.00% 1.094162 1.093807 1.093083 1.433266 1.431405 1.427621 9.25% 1.096900 1.096524 1.095758 1.447667 1.445682 1.441648 9.50% 1.099645 1.099248 1.098438 1.462212 1.460098 1.455803 9.75% 1.102397 1.101977 1.101123 1.476904 1.474655 10.00% 1.470089 1.105156 1.104713 1.103813 1.491743 1.489354 10.25% 1.484506 1.107921 1.107455 1.106508 1.506731 10.50% 1.504196 1.110694 1.499055 1.110203 1.109207 1.521870 10.75% 1.519184 1.113473 1.112958 1.513738 1.111912 1.537160 11.00% 1.116260 1.534317 1.115719 1.528556 1.114621 11.25% 1.552604 1.119053 1.549598 1.118486 1.543509 1.117336 11.50% 1.568203 1.121853 1.565028 1.121259 1.558600 1.120055 11.75% 1.583959 1.124660 1.124039 1.580608 12.00% 1.122779 1.573829 1.127475 1.599873 1.126825 1.596341 12.25% 1.125509 1.589197 1.130296 1.615947 1.129617 1.612226 12.50% 1.128243 1.604706 1.133124 1.632182 1.132416 1.628266 12.75% 1.130982 1.620357 1.135960 1.648580 1.135221 1.644463 13.00% 1.133727 1.636151 1.138802 13.25% 1.138032 1.665143 1.660817 1.136476 1.652089 1.141652 1.140850 1.681872 1.677330 1.139230 1.668173 1.698769 1.694005 1.684403
Transcribed Image Text:A APPENDIX Amount of $1.00 Invested-Daily, Monthly, and Quarterly Compounding Annual Interest Period-4 Years Interest Period-1 Year Rate Daily Monthly Quarterly Daily Monthly Quarterly 0.50% 0.75% 1.005012 1.005011 1.005009 1.020201 1.020197 1.020189 1.007528 1.007526 1.007521 1.030454 1.030445 1.030426 1.00% 1.010050 1.010046 1.010038 1.040810 1.040793 1.040759 1.25% 1.012578 1.012572 1.012559 1.051270 1.051244 1.051189 1.50% 1.015113 1.015104 1.015085 1.061835 1.061797 1.061717 1.75% 1.017654 1.017641 1.017615 1.072506 1.072453 1.072344 2.00% 1.020201 1.020184 1.020151 1.083285 1.083215 1.083071 2.25% 1.022754 1.022733 1.022691 1.094171 1.094082 1.093898 2.50% 1.025314 1.025288 1.025235 1.105167 1.105056 1.104827 2.75% 1.027881 1.027849 1.027785 1.116273 1.116138 1.115858 3.00% 1.030453 1.030416 1.030339 1.127491 1.127328 1.126992 3.25% 1.033032 1.032989 1.032898 1.138822 1.138628 1.138230 3.50% 1.035618 1.035567 1.035462 1.150266 1.150039 1.149574 .3.75% 1.038210 1.038151 1.038031 1.161825 1.161563 1.161023 4.00% 1.040808 1.040742 1.040604 1.173501 1.173199 1.172579 4.25% 1.043413 1.043338 1.043182 1.185293 1.184949 1.184242 4.50% 1.046025 1.045940 1.045765 1.197204 1.196814 1.196015 4.75% 1.048643 1.048548 1.048353 1.209235 1.208796 1.207897 5.00% 1.051267 1.051162 1.050945 1.221386 1.220895 1.219890 5.25% 1.053899 1.053782 1.053543 1.233659 1.233113 1.231994 5.50% 1.056536 1.056408 1.056145 1.246056 1.245451 1.244211 5.75% 1.059180 1.059040 1.058752 1.258577 1.257909 1.256541 6.00% 1.061831 1.061678 1.061364 1.271224 1.270489 1.268986 6.25% 1.064489 1.064322 1.063980 1.283998 1.283193 1.281546 6.50% 1.067153 1.066972 1.066602 1.296900 1.296020 1.294222 6.75% 1.069824 1.069628 1.069228 1.309932 1.308974 1.307017 7.00% 1.072501 1.072290 1.071859 1.323094 1.322054 1.319929 7.25% 1.075185 1.074958 1.074495 1.336389 1.335262 1.332962 7.50% 1.077876 1.077633 1.077136 1.349817 1.348599 1.346114 7.75% 1.080573 1.080313 1.079782 1.363380 1.362067 1.359389 8.00% 1.083278 1.083000 1.082432 1.377079 1.375666 1.372786 8.25% 1.085989 1.085692 1.085088 1.390916 1.389398 1.386306 8.50% 1.088706 1.088391 1.087748 1.404892 1.403265 1.399952 8.75% 1.091431 1.091096 1.090413 1.419008 1.417267 1.413723 9.00% 1.094162 1.093807 1.093083 1.433266 1.431405 1.427621 9.25% 1.096900 1.096524 1.095758 1.447667 1.445682 1.441648 9.50% 1.099645 1.099248 1.098438 1.462212 1.460098 1.455803 9.75% 1.102397 1.101977 1.101123 1.476904 1.474655 10.00% 1.470089 1.105156 1.104713 1.103813 1.491743 1.489354 10.25% 1.484506 1.107921 1.107455 1.106508 1.506731 10.50% 1.504196 1.110694 1.499055 1.110203 1.109207 1.521870 10.75% 1.519184 1.113473 1.112958 1.513738 1.111912 1.537160 11.00% 1.116260 1.534317 1.115719 1.528556 1.114621 11.25% 1.552604 1.119053 1.549598 1.118486 1.543509 1.117336 11.50% 1.568203 1.121853 1.565028 1.121259 1.558600 1.120055 11.75% 1.583959 1.124660 1.124039 1.580608 12.00% 1.122779 1.573829 1.127475 1.599873 1.126825 1.596341 12.25% 1.125509 1.589197 1.130296 1.615947 1.129617 1.612226 12.50% 1.128243 1.604706 1.133124 1.632182 1.132416 1.628266 12.75% 1.130982 1.620357 1.135960 1.648580 1.135221 1.644463 13.00% 1.133727 1.636151 1.138802 13.25% 1.138032 1.665143 1.660817 1.136476 1.652089 1.141652 1.140850 1.681872 1.677330 1.139230 1.668173 1.698769 1.694005 1.684403
5. Marybeth Evanston can invest $7,500 in a 1-year CD earning 5 percent interest compounded daily or a 1-year CD earning 5.25 percent interest compounded quarterly. Which rate earns her more interest? How much more? 6. Felix Capistrano invests $25,000 in a 4-year CD earning 6 percent interest compounded quarterly. What is the amount at maturity? How much interest does he earn at the end of the 4 years? 7. Standardized Test Practice Robert and Katie Masterson have the option of investing their $20,000 savings in a 4-year CD earning 5.00 percent interest compounded daily, 5.25 percent interest compounded monthly, or 5.50 percent interest compounded quarterly. Which CD earns the most interest? A. 5% compounded daily C. 5.5% compounded quarterly B. 5.25% compounded monthly D. They all earn the same amount of interest.
Transcribed Image Text:5. Marybeth Evanston can invest $7,500 in a 1-year CD earning 5 percent interest compounded daily or a 1-year CD earning 5.25 percent interest compounded quarterly. Which rate earns her more interest? How much more? 6. Felix Capistrano invests $25,000 in a 4-year CD earning 6 percent interest compounded quarterly. What is the amount at maturity? How much interest does he earn at the end of the 4 years? 7. Standardized Test Practice Robert and Katie Masterson have the option of investing their $20,000 savings in a 4-year CD earning 5.00 percent interest compounded daily, 5.25 percent interest compounded monthly, or 5.50 percent interest compounded quarterly. Which CD earns the most interest? A. 5% compounded daily C. 5.5% compounded quarterly B. 5.25% compounded monthly D. They all earn the same amount of interest.
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